Asian stocks rose after a gauge ofChina’s manufacturing expanded at the fastest pace in five months and the nation’s policymakers said they will cut the reserve requirement ratio for some banks.
The MSCI Asia Pacific Index gained 0.3 percent to 142.16 as of 9:26 a.m. in Tokyo, on course for the highest close in six months. Trading volumes across the region will be lower than average with markets in China, Hong Kong and New Zealand closed today for holidays. Japan’s Topix index advanced 1 percent and South Korea’s Kospi index rose 0.4 percent. Australia’s S&P/ASX 200 Index was little changed.
China’s economy is projected to grow 7.3 percent this year, which would be the weakest pace since 1990, according to an analysts’ survey in May. Expansion slowed to 7.4 percent in the first quarter from a year earlier, compared with 7.7 percent in the previous period.
Source: Bloomberg
The MSCI Asia Pacific Index gained 0.3 percent to 142.16 as of 9:26 a.m. in Tokyo, on course for the highest close in six months. Trading volumes across the region will be lower than average with markets in China, Hong Kong and New Zealand closed today for holidays. Japan’s Topix index advanced 1 percent and South Korea’s Kospi index rose 0.4 percent. Australia’s S&P/ASX 200 Index was little changed.
China’s economy is projected to grow 7.3 percent this year, which would be the weakest pace since 1990, according to an analysts’ survey in May. Expansion slowed to 7.4 percent in the first quarter from a year earlier, compared with 7.7 percent in the previous period.
Source: Bloomberg
